/CORRECTED/ According to the National Bank's data the amount of net pension assets in Kazakhstan is $1,730.8 m by the beginning of January of 2003

/IRBIS, January 22, 03, resent in accordance with National Bank's corrections in the data on structure of portfolios - percentage and comment in the last paragraph have been changed, the rest - without changes/ - According to the data of Department financial supervision of the National Bank of Kazakhstan (the Department) amount of the net pension assets (PA) in the country (amount of pension assets excluding liabilities on the charged commissions, accounts payable on pension payments) equaled by January 1, 2003 to KZT269,752.4 m or $1,730.8 m by the weighted average stock exchange's rate determined on this date. Comparable indicator by December 1, 2002 is KZT257,906.7 m or $1,665.2 m. In December accumulative pension funds' (APF) net assets increased by 4.6% in tenge and by 3.9% - in currency. In November of 2002 assets increased by 3.4% in tenge and by 3.1% - in currency. By the beginning of January of 2003 total sum of PA was KZT270,159.3 m, KZT267,827.4 m of them were invested. In all within December of 2002 eight pension assets management companies (PAMC) and 16 APF were functioning in the country. The table below characterizes assets volumes of each fund (KZT mil unless otherwise specified) and assets distribution of APF and PAMC. ------------------------------------------------------------------------------ Total assets --------- ----------- Net % of all PA pension of Invested Name of PAMC / APF assets Volume Kazakhstan ------------------------------------------------------------------------------ PAMC ABN AMRO ASSET MANAGEMENT CJSC ------------------------------------------------------------------------------ КAPF Phillip Morris Kazakhstan CJSC 648.2 649.0 0.2 644.3 AOZT APF Narodniy Pensionniy fond 5,063.4 5,072.3 1.9 4,989.0 APF CAPITAL CJSC 623.8 624.1 0.2 585.2 PAF ABN AMRO CJSC- KaspiyMunai Gas 18,906.7 18,922.7 7.0 18,724.7 ------------------------------------ --------- --------- ----------- --------- Total 25,242.0 25,268.0 9.3 24,943.2 ------------------------------------ --------- --------- ----------- --------- PAMC ZHETYSU CJSC ------------------------------------------------------------------------------ APF Ular Umyt CJSC 46,349.9 46,504.5 17.2 45,877.6 APF Kazakhmys CJSC 8,841.2 8,857.5 3.3 8,836.1 ONAPF Nefte-Gas Dem CJSC 6,423.8 6,433.4 2.4 6,397.3 ------------------------------------ --------- --------- ----------- --------- Total 61,614.8 61,795.5 22.9 61,111.0 ------------------------------------ --------- --------- ----------- --------- The company of Halyk Bank of Kazakhstan on pension assets management CJSC ------------------------------------ --------- --------- ----------- --------- APF of Halyk Bank of Kazakhstan CJSC 60,797.4 60,831.9 22.5 60,042.9 OAPF OTAN CJSC 2,595.3 2,595.7 1.0 2,577.2 ------------------------------------ --------- --------- ----------- --------- Total 63,392.7 63,427.6 23.5 62,620.1 ------------------------------------ --------- --------- ----------- --------- PAMC Ak niet CJSC APF Korgau CJSC 3,914.2 3,916.1 1.5 3,904.2 NAPF named Kunayev CJSC 820.7 820.9 0.3 814.8 ------------------------------------ --------- --------- ----------- --------- Total 4,734.9 4,737.1 1.8 4,719.0 ------------------------------------ --------- --------- ----------- --------- PAMC BTA Asset Management CJSC ------------------------------------------------------------------------------ NAPF Kazakhstan CJSC 7,332.3 7,342.4 2.7 7,284.1 NOAPF Kurmet CJSC 11,165.3 11,169.3 4.1 11,021.6 ------------------------------------ --------- --------- ----------- --------- Total 18,497.7 18,511.7 6.8 18,305.7 ------------------------------------ --------- --------- ----------- --------- NPAMC Activ-Invest CJSC ------------------------------------------------------------------------------ NNP Valut-tranzit fond CJSC 7,879.9 7,888.5 2.9 7,846.2 ------------------------------------ --------- --------- ----------- --------- Total 7,879.9 7,888.5 2.9 7,846.2 ------------------------------------ --------- --------- ----------- --------- PAMC BESTINVEST CJSC ------------------------------------------------------------------------------ APF SENIM CJSC 12,740.9 12,757.1 4.7 12,691.0 ------------------------------------ --------- --------- ----------- --------- Total 12,740.9 12,757.1 4.7 12,691.0 ------------------------------------ --------- --------- ----------- --------- State accumulative pension fund 75,591.2 CJSC (SAPF) 75,649.5 75,773.8 28.1 ------------------------------------ --------- --------- ----------- --------- TOTAL pension assets 269,752.4 270,159.3 100.0 267,827.4 ------------------------------------------------------------------------------ The biggest APF by the end of December (in descending order of PA sum): SAPF, APF of Halyk Bank of Kazakhstan CJSC and APF Ular Ymit CJSC By the volume of managed assets SAPF is still the leader at pension market (28.05% of all PA in management). The second one is the Company of Halyk Bank of Kazakhstan on pension assets management (23.5%). On the third place is PAMC ZHETYSU (22.9%). NNP Valyut-tranzit fond CJSC still has the biggest assets increase in December (7.57% in tenge and 7.07% in currency expression) (excluding APF CAPITAL CJSC and OAPF OTAN CJSC whose assets being the assets of the youngest fund increase very quickly in tenge - by 26.5% and 18.0% correspondingly). In absolute expression APF of Halyk Bank of Kazakhstan CJSC has the biggest sum of increase (its assets increased within the month by KZT2,750.8 m). The second place belongs to APF UlarUmit CJSC (growth by KZT2,439.9 m), then SAPF CJSC (growth by KZT2,318.7 m). Invested assets on financial instruments distributed the following way as of January 1 (with the purpose of clearness of tendencies in parentheses data for two previous months given in reverse chronological order) - mid- and long-term domestic GS of the Ministry of Finance(KZT) - 12.54% (13.60%; 12.26%); - eurobonds of Kazakhstan sovereign debt (USD) - 22.76% (23.47%; 25.15%); - short-term internal GS of the Ministry of Finance and the National Bank (KZT) - 12.43% (10.17%; 10.57%); - bonds of domestic executive bodies of Kazakhstan (USD) - 0.44% (0.48%; 0.50%); - shares of foreign issuers (foreign currencies) - 1.15% (1.08%; 1.18%); - corporate bonds of foreign issuers (foreign currencies) - 1.98% (2.70%; 4.98%); - foreign states' securities - 4.92% (4.16%; 4.12%); - securities of international financial organizations (foreign currencies) - 6.75% (7.32%; 5.15%); - Kazakhstan companies' shares - 3.85% (3.79%; 3.89%); - Kazakhstan companies' bonds - 24.33% (24.43%; 24.25%); - Deposits and deposit certificates (KZT) - 7.99% (8.20%; 7.53%); - Deposits and deposit certificates (foreign currencies) - 0.87% (0.60%; 0.40%). The given data show that the structure of aggregated pension portfolio in December did not change much. Position of euronotes of Kazakhstan in this portfolio continues to gradually decrease. Mid-term securities of the Ministry of finance of Kazakhstan was suffered the same fate. At the same time assets managers paid much attention on the shortest Kazakhstan GS, foreign states' securities and foreign issuers' bonds. [2003-01-22]